Listing Agreement Cancellation Clause With Seller In New York

• Category: Real Estate - Contracts - Agents
• State: Multi-State
• Control #: US-00048DR
• Format: Word; Rich Text

Description

The Listing Agreement Cancellation Clause with Seller in New York allows both parties, the Broker and Seller, to mutually terminate an existing Listing Agreement. This termination is effective on a specified date, and both parties acknowledge the termination through their signatures. Key features of the form include an unconditional waiver of any claims by the Broker against the Seller, aside from reimbursement for incurred expenses such as advertising costs. The Seller releases the Broker from any further obligations related to the Listing Agreement. Importantly, the Broker retains rights to any commissions earned prior to the termination. This form is crucial for attorneys, partners, owners, associates, paralegals, and legal assistants as it provides a clear framework for terminating agreements while protecting the interests of both parties involved in real estate transactions. Users should ensure that all information is filled accurately with appropriate dates and dollar amounts where necessary. This form serves to mitigate potential disputes and clarify the responsibilities post-termination, making it a vital tool for all professionals in the real estate sector.